Baltic Exchange: Maritime market highlights 13-20 Mar

• In the Middle East, rates for 280,000mt to the US Gulf via Cape to Cape routing, fell back to WS120 having reached just over WS200.
• 270,000mt to China is now worth WS130, down almost 100 points from its peak.
• In West Africa the trip for 260,000mt to China rates have dropped 75 points week-on-week to WS120 level.

Tankers – Suezmax

• In the West Africa to UK-Continent market, rates crashed 100 points down to WS120.
• On the 135,000mt Black Sea to Mediterranean market, rates fell 50 points to WS150.
• In the Arabian Gulf, rates also fell away on the 140,000mt Basrah to Mediterranean market, having risen to close to WS200, are last assessed at WS120.

Tankers – Aframax

• Rates for 80,000mt Ceyhan to the Mediterranean climbed another 30+ points to WS177.5
• 0,000mt Caribbean to US Gulf saw a modest rise of 7.5 points to WS192.5-195 level.
• Rates for 70,000mt US Gulf to the Mediterranean remained flat at WS172.5-175.

Tankers – Clean

• Another positive week for owners saw rates in the Middle East Gulf to Japan trade for 75,000mt gain 17 points to very high WS170s
• The LR1s firmed 15 points to peak at around WS177.5/178 region,
• Exxon are said to have paid WS180 from Sines, and the market is now coming under downward pressure.

Bulk Carrier – Capesize

• The Atlantic Basin was the bigger mover this week, albeit with fewer fixtures, as large declines in the bunker prices lifted timecharter rates in relation to the marked voyage rates.
• Declines were felt later in the week with the Brazil to Qingdao C3 dropping from $10.535, to end the week at $9.970.
• West Australia to China C5 saw a constant flow throughout the week with rates fluctuating to close out at $4.305.

Bulk Carrier – Panamax

• Weaker bunker prices further accentuated matters, and there became an apparent appetite for many owners to lock in for longer duration business given the increasingly bleak macro-outlook.
• This resulted in some discounted rates getting agreed.
• Rates for fronthaul trips generally hovered around the high $8,000’s to $9,000 mark for nicer described unit’s delivery Southeast Asia and India positions, whilst earlier tonnage was able to achieve closer to $13,000 plus $300,000 ballast bonus delivery Arrival Pilot Station (APS).

Bulk carrier – Supramax/Ultramax

• Period activity was seen, with an Ultramax open North China, fixing five to eight months trading at $11,000.
• In the Atlantic, uncertainty remained about port activities in East Coast South America, brokers said rates suffered with a lack of fresh enquiry.
• An Ultramax was rumoured fixed at around $20,000 for a trip to the East Mediterranean with petcoke.

Bulk carrier – Handysize

• Minimal changes in East Coast South America this week, whilst in the US Gulf, brokers saw a tight tonnage list, with rates continuously improving.
• In the East, short period fixtures were reported with a 34,000dwt ship, delivery Vietnam, fixed for three to five months at $5,000 for the first 45 days, and $7,000 thereafter.
• From the Indian Ocean, a 36,000dwt ship open Mesaieed was booked for a trip to West Coast India at $7,000.